The numbers: American businesses are still struggling to cope with broad shortages of key supplies and skilled labor even as customer demand for their goods climbs above pre-pandemic levels.
Prices for many materials have risen sharply, products aren’t getting delivered on time, and in some cases companies simply lack enough labor to make as much as they can sell, the survey indicated. Key details: A measure of new orders slowed a bit in June but remained near a 17-year high. Orders reflect now much new business a company is receiving.
Read: U.S. unemployment claims sink to pandemic low of 364,000 as extra benefits start to get phased out The employment index fell below the 50% cutoff mark for the first time since last November even though companies want to hire.